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Civil Plaintiff

Judge Proposes Adjustments to Apple’s $490 Million Settlement

A $490 million proposed settlement agreement between Apple and investors who claim the tech giant misrepresented its value between 2018 and 2019 needs more work, a federal judge in California said Tuesday.

Apple told U.S. District Judge Yvonne Gonzalez Rogers in Oakland that the company doesn’t oppose the settlement, which a class of investors who brought securities fraud claims against the company proposed on March 15.

But the judge said she is unlikely to approve the draft agreement to settle claims that Apple misrepresented its value to investors during the U.S. trade war with China, calling parts of it “wholly inadequate.”

Read more at Courthouse News Service

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